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U.s. 11, Us 10, Egypt 9, Hp Moonshot 8, New York 7, Lauren 6, S&p 6, America 6, Detroit 6, Europe 6, At&t 4, Hp 4, Nicole 4, Ireland 4, Starbucks 4, Dennis 3, Steve 3, Ashton Kutcher 3, Islam 3, Ford 3,
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  FOX Business    Markets Now    News/Business.  
   Business news. New.  

    August 19, 2013
    11:00 - 1:01pm EDT  

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you were discussing. we were having our own in studio analysis of it. i do not think you could win a lawsuit in court. that is my guess. charles: take it away. not happy with the detroit bankruptcy filing. they need to speak up today or hold their peace. holding back financial aid to egypt. do we need to cut off all of the money going to that country? a raspberry instead of blackberry. the movie about steve jobs came in second at the box office over the weekend. listen to this. some wood off to lease themselves rather than till death do us part.
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♪ connell: off to a good start. raspberry instead of apple. we have to rush to the news here. dagen: eckerd over the weekend. we have it all covered. connell: first the markets. last week was a rough week for stock markets. >> the dow was down 2.1% last week. the worst week for the dow and more than a year. they spoke in apple shares.
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it is kind of casting over the market a little bit. retail continues a little bit. they reported their numbers for the quarter. very convenient that dollar general got an upgrade today. that stock is up. dagen: deadline day today in detroit. connell: let's bring in jason riley. they are saying is detroit really bankrupt? >> there are a lot of people who will take issue with what detroit is trying to do. it is important to remember before they got here. they are responsible for their own on doing.
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until a couple years ago, if you are a public safety official in detroit, you could retire at 55 with 80% of your salary and health care. this is the day of reckoning. it is important that this be done right. this is the first city that is trying. dagen: that raises the issue. so many others have been thrown up their. those cities would not act, with day, jason, until it is clear that detroit can do this. >> that is why it is so important here. they are saying that this violates the constitution.
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you cannot reduce benefits for retirees. that violates the state constitution. what some of us are hoping is these contracts can be renegotiated. if they get away with protecting retiree benefits through this chapter nine filing, what you will see is other cities using chapter nine. we do not want it to happen. that will leave taxpayers on the hook. that will be a bad precedent. connell: the key word is precedent. they will come in and say that you never negotiated with us in good faith.
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>> in my experience of covering public-sector unions over the years -- [laughter] >> talk about calling the kettle black. i think that detroit has tried everything that they possibly could. i'd like to think so. i would hope so. dagen: i was watching an episode of house hunters over the weekend. they set this house was for sale for $65,000. it was detroit. some of the cheapest real estate in the country. thank you very much, jason riley. markets are recovering from last week. jeff is joining us from
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st. petersburg, florida. i hope it is sunny down there. you were calling for a pullback. have you seen enough of one, technically? >> first of all, let me correct you. i think we have a very high availability. if you are using next year's earnings, you have an earnings yield of 7.4%. i have been looking for the first meaningful the client of the year to start between july and mid august. i think we have started. i do not think we are through. got very oversold late last week. on a trading basis only, i think
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we are going lower. dagen: what are you looking for on the s&p as your bottom. >> i think it will be around 1560. the 200 day moving average is rising over the next few weeks. the lower part of that zone would be 1530. somewhere in between 1530 and 15 sixteenths i think stocks are a by for another leg up. they rammed the small caps. that is another warning sign. that typically happens as you are building into a short term trading stop. the last time that happened was
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in june of 2007. we all know how that turned out. i have been avoiding utilities, consumer staples and telecommunications. dagen: good to see you. thank you very much. we will see you soon. connell: the violence continuing in egypt. dagen: we are following this from jerusalem. what is the very latest? >> it appears it is day four of rage. we continue to kind of fizzled inside of cairo. the army seems to be winning.
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i have some video to show you from overnight. they rounded those folks out. it is really seeming to boil over overnight. there were 24 egyptian police officers that were executed. on the other side comes word that former president was deposed back in 2011. he may be getting out of prison which certainly will not make a bot of people very happy. going forward, it kind of looks like this.
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imagine egypt is the large bond fire that is ready to be sparked. the award is soaked in gasoline. the question is, what will that match the? dagen: thank you very much. connell: the american public was not all that impressed over the weekend. we will have that story coming up for you. dagen: why commit if you do not have to. a multi- year test run. >> to me it is scandal. they are using information to hurt them.
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99.9% batting average. that is better than most. i have a tremendous respect for general alexander. i think it is terrible. connell: there he is. we have him coming on with us a little bit later this hour. keep it here for that. look at the oil market first. ♪ right now, 7 years of music is being streamed.
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a quarter million tweeters are tweeting. and 900 million dollars are changing hands online.
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that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together.
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i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce? [ woman ] time for change! dagen: or we'd like it and -- we like it when a record like this is set over the weekend. $27.5 million. one of only ten bills. the former mayor of lexington lexington .back in 2007.
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it is not disclosing who bought it. the family says all the proceeds will go to charity. it is a wicked car. i love everything about this story. andy smith. $14,500 for it back in 1968. it is only $100,000 today. connell: this was a different auction stand where adam shapiro was. dagen: it is almost impossible to make that kind of money. they will make a lot of them.
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if they do make a small batch, you cannot get your hands on one. connell: they only made ten of them. there is an attorney in florida saying it is time to alter the legal structure of marriage. you should have what leases. you should enter into a lease. at the end of that, you could renew it. dagen: like rent to own. connell: exactly.
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the whole idea is to avoid a messy divorce. dagen: as the vehicle ages, so to speak, you are not tied to it forever. men still do that. the contract of marriage does not get into the way of them doing that. all of a sudden there is a 23-year-old blonde hair. connell: josh is getting married. did you know that? dagen: i have got them for wedding invitations in the last month. lauren, what do you know?
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>> intel, the best performing stock today. upgrading intel. these are a couple of the reasons why. pcs are not going away anytime soon. there will be a modest refresh in the buying cycle. those are some reasons. also it is apple and google and facebook. they all have of arrows. back to you. connell: make you very much, lauren. dagen: ashton kutcher. not too many people wanted to see the movie over the weekend. connell: governor mike huckabee will be coming on. more numbers on market now.
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the euro $1.33. we will be right back. ♪ ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today.
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>> i have your fox news minute oscar pistorius was indicted today. he will go on trial march 3. he faces a large sentence. according to reuters, he is promising that they will not be harmed. caroline kennedy may be worth more than originally thought. it could be as high as half a billion dollars. kennedy had to make a disclosure after being nominated as
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ambassador of japan. i am lauren green. back to you, dagen and connell. connell: the steve jobs movie fell short over the weekend. dagen: dennis kneale joins us with more. dennis: it comes in seven of the weekend box office. this is a big push for the film. only a 25% positive rating. a 50% positive rating among fans. the focus of this film was not on the comeback and the ipod
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and the iphone and ipad. it was on the struggles of the early apple. ashton kutcher is a comic actor, not a dramatic act there. they are willing to pay more money to be in a cell. dagen: steve has been fairly vocal. he saw the film. he had several criticisms of it.
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if you are going to tell the story, tell it right and tell it well. connell: wanted somewhere in between. dennis: he looks so much like jobs. i want to see who they cast in the role for the next one. dagen: it will surely be a better fit. dennis: the other day, i thought it was footage of steve jobs.
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dagen: thank you. should the u.s. continue sending money to egypt? that is a huge question. former governor mike huckabee will talk all about it. connell: this is at a time where the stock is moving a lot higher. ♪ [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an n ancient burial groun.
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connell: the uncertainty in egypt has washington looking at every dime. congressman peter king is here. the tone of that story and why he says it is extortion. dagen: jpmorgan is the number one loser on the dow. >> vidal is flipping over as we speak. the biggest loser is jpmorgan. they have the political connections. the investigation is definitely
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underway right now. the financials are lower today. this month, jpmorgan down 6%. this is yet another headache. dagen: thank you. we have been sending money for roughly four years and egypt. is now the time to cut it off? >> the problem is people who have taken power now have done so to push the muslim brotherhood away. they burned churches, they kill
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christians, they have oppressed women. we probably have once again decided to pick the wrong side. we have been taking a side. unfortunately, we took the side of the muslim brotherhood which is inexpressible. there are some symbols of peace that egypt is a part of. for americans to say we do not care anymore, that is being quite naïve. connell: i guess that there is some risk that comes along with that. we are still giving aid to the military.
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how does that make us look? does it help or hurt our image? >> our image could not get much worse than it already is. the muslim brotherhood said we will welcome everybody to the table. they got in power. a country was very progressive. i think maybe it is not unconditional aid. i think our aid ought to be humanitarian. it is the kind of leverage that we ought to be influencing.
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if we do nothing, guess who will be showing up very soon with a checkbook. they do not want to see the muslim brotherhood take power again. i think americans need to understand that this is islam x versus islam x. it requires americans not just suddenly say that is one group of islam x. dagen: right. you have to ask yourself, do you not governor, what do you get if you do that. does it improve your relationship with the military. do you put israel at risk? it seems to be as stable as it can get.
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>> you nailed it. it would disintegrate any relationship that we currently have. no, we will not stand against the muslim brotherhood. the muslim brotherhood, he shoved them in prison because he knew that they could not be trusted. we are finding out why they all made sure the muslim brotherhood did not have a seat at the table. when they do, they want every plate, every night, every fork and every scrape of food or they will not be happy about it. it is time that we start, maybe, at least playing the right horse in this thing. connell: loi, it is still a mess over there.
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it is hard to see how this ends well for anyone. >> you will not have a situation where everyone sits nice. that is not the way that this thing and. i wish i could paint a prettier picture. there is not one to paint. this is not a group of people whose sides are about bringing reconciliation. it is a matter of view can be neutral or you can pick a side that you think is the least offensive and hope that they win. remember, no matter what we do, the russians will come in and the other states along those goal areas, they will come in. if we want to have any influence
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at all, we cannot just walk away and act like we are not getting what we want so therefore we will take our toys and go home. dagen: governor, they give very much. connell: peter king is coming up. why the criticism of the nsa has been, well, overdone. gas mileage. the headline. it could be a game changer. we will have a report on not. first, a look at the markets. we will be right back. ♪ you know throughout history,
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♪ >> i am lori roth and with your fox brief. a wider than expected second-quarter loss. marking down prices was forced. revenue of 700 million also fell
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short. zillow is down more than 4%. zillow also announced an offering of about 5 million shares. that is the latest from the fox business network. giving you the power to prosper. ♪
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>> they chose not to report the program. they said they were not looking at any american data or phone calls. they were looking at billions a day. i think they got most of the terrorist or stopped most of the
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terrorist. connell: there he is. making some headlines on fox news sunday yesterday. our next guest says it is, well, nonsense. why is he wrong? >> first of all, i disagree with this whole implication that somehow the nsa is spying on people. as far as -- billions of phone calls every day. they are not listening to the phone calls. it is a meticulous program that they go through. for him to say that the spying on americans is just untrue.
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it is the only time that those calls come into scrutiny. connell: is there more investigations that need to be done? >> i am satisfied right now. anytime you have a program like this, it has to be constantly monitored. you always have to have someone monitoring. up until now, the record has been exemplary. it has been on target. some mistakes have been correct did. >> the politics are at least worth exploring. it speaks to the way the
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direction will go in the future. is the republican party before the next election make a big move? how do you see this playing out? >> i would hope that there is enough room for everyone. every time we leave or vacate an area, it creates a vacuum. we have to be selective in what we do. somehow the problems of the world are our fault. it is wrong.
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as a party, we cannot have that. connell: is that why you are thinking about getting into the presidential race? >> i would not just be running for the sake of running. i feel very strongly that the republican party is in danger. he is smearing innocent people. i find it offensive to those men and women who wake up in the morning. they get nothing at all.
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connell: kind of the same discussion that we are having. >> i agree with governor huckabee. the better choice is to work with the military and try to get reforms to them. if we give in, we just run into problems. connell: did you see the game last night? >> yes, i did. as far as i am concerned, i am a fan. he has really abused things with steroids. i was at the long island ducks game yesterday. connell: it sounded like you just condoned a pitcher throwing at a batter. >> i caught the first pitch of
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the ducks game yesterday. it was 142 miles per hour, i think. connell: thank you, mr. congressman. thank you. take care. >> thank you. dagen: we will be trying to find video.
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>> i like the stock. i do not own any of it. i think it has a weight on the upside. dagen: thank you. good to see you. be well. connell: time to get to this for story. why it could be a game changer for automakers.
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dagen: take a look at the winners on the nasdaq. ♪ weekdays are for rising to the challenge. they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. every day of the week. centurylink® your link to what's next. a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller
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dagen: reducing the fuel economy rating. it was originally listed at 45 miles per gallon. had to take it down to 43. connell: let's get to jeff flock for more details.
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jeff: take a look at the fort. it got the same mpg rating as the ford focus. the focus is a car crossover. are there other instances like this? well, there are. the equinox and traverse. when consumer reports tested these vehicles separately and independently, they came out differently.
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let's take a look at the automotive stocks. they have all done very well. 70% on the year. gm off about 57%. these mpg's get of crazy. it could have an impact. ford is now playing out to those owners. it would be $17 million of a hit for ford. we have to watch that one. you have to be honest about your mpg's. dagen: you have to fess up. connell: good to see you, jeff. dagen: dennis kneale is joined
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by bill petallides and an all-star panel on the impact of head. connell: all the latest rage. we will find out the nearest shop. believe it or not, there is an app for that. you definitely want to stay with markets now. ♪ [ male announcer ] imagine this cute blob is metamucil. and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels.
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>> i'm dennis, and see who is here with me. >> i'm nicole, and look at the big board at the new york stock exchange, you usually see me there, but i'm here now. the dow jones, back and forth
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action, and stuck in neutral, down 13 points after the biggest drop in more than a year as traders position themselves for what seems like the inevitable tapering by the fed. an analyst says the time is ripe to invest in europe instead. >> speaking of the fed, president obama meeting with big ben and others on the dodd-frank implementation, and picking the replacement looms high. all-star panel ahead. >> worry egyptian violence costs you at the gas pump. live in the middle east where the latest violence and talk to phil flynn at the cme with the impact on our oil prices. >> and, yes, there's an app for that. the latest craze, how you can find the nearest shop for the half cro cont-donut hybrid. we'll have that story, and it's time for stocks now, every 15 minutes. lauren? >> hi, dennis, hi, nicole.
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stocks anxious about higher rates today. the 10-year is 287, up five of the past six sessions and red arrows for the dow and s&p. the dow with the worst week of the year last week, and now down another 15 points, crunched the numbers, and throughout the level of 150 # 40 meaning close to going below the key 15,000 level. it is the out performer here, apple, facebook, cisco, up arrows on the nasdaq. volume, of course, is light. it is august. however, the number of declining stocks to advancing stocks is pretty wide right now, more than 2-to-1, and last week, down days, but the market was not as negative as others show you. back to you. dennis: thank you, lauren. nicole: stocks are too expensive and time to look overseas for
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opportunity. you bet on europe right now, why? >> well, if you look at the u.s., it's expensive. it's not horrific like the 1990s, but it's on the expensive side. that's very much a head wind, but if you look at the rest of the world, look at 40 # different markets, u.s. is the second most expensive in the world whereas you look at europe, look at russia, you look at ireland, one of my favorites, a lot of the countries single in sing the digit pe levels, levels seen at the bottom of a bear market. there's a lot of opportunity outside the u.s.. >> i want to talk about pe levels. just explain, break it down, when you tell the viewers this is more or less expensive, what are you looking at to break it down in a simple way saying u.s. is second most expensive? explain that. >> we take a long view. we look at ten-year averages of the pe ratios adjusted for
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inflation so robert schiller, yale professor, developed this metric based on principles ben grahm wrote about over 80 years ago. you find countries trade around an average of 17 -- hit bubbles in the high 20s, and then they bottom out in bear markets in the high single digits. u.s. around 24 right now after the great rally, but a lot of countries in europe, spain, italy, greece, ireland, trading in the low single digit levels think there's a lot of opportunity right now. >> well, right. what you say about the u.s. being at roughly 24 against the 17 average level, and other countries like europe, in europe, single digit pe's, however, isn't it so much more risk? >> so u.s. is allowed to be a little more expensive right now as long as yoir in the safe inflation zone of 1 #-3%. once you get above 3%, there's a yellow flag. above 4%, that's a red flag.
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you have huge pe multiple compressions. the risk is out with markets declining, and in the case of greece, 80-90%. you are getting the blood in the street type atmosphere where all the bad news is priced in and buying at really cheap levels. >> give us exact investment ideas. i know you have your etf fund. where do you suggest now is liquid etfs, you can get exposure through foreign emersion down to the country level, and be careful because they are smaller, but as long as you invest funds that are
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liquid, the ireland, greek, etfs perfectly acceptable. >> your favorites? ireland and greek etfs? >> combines evaluation and low momentum in trend. u.s. out performed everything; right? the best performing start markets in the world, but foreign started to catch up in the last month. they plateaued, foreign markets play catchup, and if that continues, i think there's huge opportunity for foreign to close the gap with strong returns. ireland is my favorite with cheap evaluations, but also good positive momentum and trends. >> great job. thank you for breaking that down. you talked about beautiful countries as well. thanks. >> thank you. >> economics on the menu at the white house with the president looking to replace ben bernanke, he's meeting with big ben and others for the update on
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dodd-frank em -- imp policemennation and more. what's going on today? is the president there to listen about the update or there more to wag a finger saying he wants it to move faster? >> it sounds like it's just going to be an update, dennis. he's not -- he's got all of the major financial regulate ores coming in from ben bernanke at the fed to mary jo white, head of the fcc to richard cordray over at the consumer financial protection bureau and three or four others, and so -- but it is an opportunity for him to meet and talk with the folk, and he is going to be going on the road this week to talk about the economy, and some of the conversations here could end up in the bus tour in pennsylvania later in the week. >> right. be careful what you say. where do you think we are on implementation of dodd-frank.
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i know obamacare has had setback after setback. they could be confident enough to get back to business. >> it's been a very low tough slog to finish up dodd-frank implementation. look, in defense of the regulators, they were handed a huge task in implementing dodd-frank with 13 or 14 titles, hundreds of pages long like the health care bill referenced, and it takes a long time to get this done and get it done right. i think the president is trying to speed them along a little bit. he has to be very careful though because several of the agencies meeting with are independent agencies. white house is not supposed to be having an active role, but a-political independent of the white house. we can encourage them to speed up the process, but they have to be careful pushing too much on policy prescriptions. >> yeah, peter barnes, turn it over to the ben bernanke replacing ben. now, bloomberg did a survey of economists saying janet yellen
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is the political candidate, but political wonks have another guy in mind with larry summers, what do you say? >> i agree with that. right now, as i said, it looks like larry summers to lose. he is still, even though he left the white house at the end of 2010, a trusted adviser to the president on economic issues. they still talk frequently. the president does not appear to know janet, the vice chair of the fed, the other leaning candidate, and i note, also, the 633 economists surveyed by bloomberg, i looked at the names, they are fed alums. >> yeah, brian, what do you think -- which candidate is better received by members of the fed versus though better received by wall street? >> for the fed, janet. just pure familiarity aspects. she's part of the fed, has been for quite some time, ran the san
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fransisco fed for several years, vice chairman in dc of the board. they know her. there's a familiarity. on the familiarity side, i think wall street feels a little bit more comfortable with summers because they know him, working on wall street, and interacted. it's familiarity. that's just a short term thing. i think the issues of familiarity and who you feel comfortable with pass with time, and pass fairly quickly as the new chairman takes over and puts their stamp on what the fed's going to look like. >> yeah, peter barnes, i think wall street views summers as the more political adviser to the president, and therefore wonder if he's willing to do policies the president likes? >> yeah, in fact, larry summers was the architect of the legislation that passed in dodd-frank when he was here. remember, passed in 2010 when he was still the president's economic advisers, so i think that the president made clear in
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his press conference before he left for his vacation what he is looking for, and in a new fed chairman, and if it's lair summers, again, someone he trusts, he's going to give larry marching orders even though the fed should be independent. >> yeah, go ahead. that point, you know, i think the hill, especially hill democrats, senate democrats, are going to push either candidate, especially summers, to really defend and aggressively implement dodd-frank. it's, in some ways, answering more to the hill than it will be to the white house because of the independence that peter just mentioned 37. >> all right. thank you very much, both of you. good day. >> workers protesting for higher minimum wage demanding ceo pay be cut. we have a new study that argues against it. >> as al jazeera america is on air tomorrow, advertisers are not touching it. the story coming up in media
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minute. >> deadly protests in egypt hits you at the gasoline tank as oil takes a hit. focusing on egypt and oil coming up, and as we do every day at this time, look at the metals. ♪ my mantra? trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children
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>> coming up on quarter after the hour, stocks now, to the floor, and lauren? >> we are talking about apple. big part of the broader market, big part of the nasdaq, shares up another 1.8% today. last week, nearly 11% up, the best week for apple since october of 2011 #, so carl icahn's tweet about apple bringing out the bulls and stock price above $500, and we saw that last week for the first time since january. definitely a nice feed for apple. quickly, the market cap now 465 billion so now thee biggest company in the s&p 500, exxon
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mobil at number two. back to you. >> thank you, lauren. >> saying that was a nice chart there. someone who knows about the charts and how to make money, our own charles payne, of course, and major wall street insider buying 14,000 shares of green mountain coffee, charles, tell us what this all about. >> the company is buying the stock, i mean, you know, listen, companies sell stock all the time, insiders selling, but there guy bought 14,000 shares at $75, a million dollar buy. wall street, short position, 40% floated it short. i've been on this all yearlong. i like it. when i see this, i really love it. how many people, insiders, put their money where the mouths are after the stock made this move? a huge bode of confidence, i do. >> it certainly is. everyone talks about the fact that the coffee market is intense, single cups, competition, it's beautiful when you see the insiders saying get skin in the game; right? money where the mouth is.
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>> absolutely. >> whatever you want to call it, it is great when they do that. don't you think the market is so, i don't know, tough? >> it's always tough. that's what ime tigs is. mine rival was starbucks. >> a big threat. >> right. stocks took a hit because of starbucks. you know what? walking around stores, and since then, they doubled down on the relationship, and they have a relationship with everybody. by the way, you know what i like to talk about quick? a guy named bob stiller walked into a cough foe shop in 1980, best cup ever, buys into the company, rename it green mountain. i mean, they have done so many things since then, went retail, wholesale, and after wholesale, they were the first k-cup, and bought kerig, dirt cheap, reinvented themselves. >> didn't they lose a patent protection on the single serving? something lifted? they don't have exclusive anymore? >> i think so. what helped them is relationships. talking about competition.
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you can't name a brand out there they don't have some sort of long term relationship with already including starbucks. >> right. >> all right. guys, by the way, closing above 80, could be a hundred dollars. >> mark it down. >> mark it down. >> loving it. >> challenging the starts right now. >> nobody knows the name of it. i actually for a brief moment considered getting it. >> be looking for it in three years. >> i think that was the problem. okay. it's what you've been waiting for, the latest craze, how you can find the nearest shop for the half donut creation and knockoffs even. yes, there's an app for that. >> that looks good. reducing fuel economy for the hybrid, jeff flock ahead on whether this is just the tip of the mpg iceberg. all right. first now, the world's currencies for you and how they are fairing against the u.s. dollar.
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join us at projectluna.m a quarter million tweeters is beare tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together.
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we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally.
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>> this is your fox news minute. the central idaho wildfire is into its 12th day. the blaze is near the sun valley ski resort, and it's not far from an area where celebrities like steven spielberg and tom hanks have vacation homes. the fire scorched more than 1,000 acres forcing evacuation of more than 2,000 homes. oscar was formally indicted today on a premeditated murder charge in the sheeting death of the girlfriend, the double amputee olympian is on trial march 3rd facing a life sentence with a minimum of 25 years if convicted. if you have a sweet tooth and can't get to the bakery in new york for an original cronut, there's an app to locate knockoffs. the website, thrill list, launched an app that displays bakeries not just in new york, but around the globe. they are marked on the map by little pink frosted donuts, and using the site is reportedly a piece of cake. those are your news headlines on the fox business network.
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back to you, nicole, and i'm hungry. i don't know about you. >> that was great, and, yes, i need to try a cronut. thank you so much. four dramatically reducing economy rating on the hybrid, could this justin wesley the tip of the iceberg for the auto makers? jeff flock with the details on this in chicago. jeff, explain. >> poking around on this, nicole, and i'll tell you, there is a loophole in the epa regulations with regard to mpg a's big enough to drive if not a truck through, a hybrid through. look at the picture of the ford hybrid, the same engine, the same transmission, and it's in the same weight class as the ford fusion hybrid meaning by epa regulations, ford can assign that the same rating that the the better selling ford fusion gets. the ford fusion actually really does come close to the mpg rating, but this did not. look at that, it doesn't look like a fusion, does it?
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certainly worse aerodynamics on it. other vehicles that do the same sort of thing or a different vehicle, but get the same mpgs? look at vox -- volkswagon, their version both get the same mpgs as well, even though they are different vehicles, and when tested independently, the golf and sports wagon got better than the epa standards, good news. if you contrast that with the chevy traverse, for example, they also, even though they are different vehicles, look at the two vehicles, they are both suvs, one bigger than the other, the equinox, both and the traverse with 19 combined mpg, but when consumer reports tested them, found the equinox got 18, the traverse 16. no surprise, traverse is bigger, getting less fuel economy. i'll tell you, the auto makers have done well this year, tremendously well. if you look, for example, at
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toyota, from 80 at the beginning of the year to now 130, up 57%. gm was 22 at the start of the year, and now up to around $34 a share, ford 10 at the beginning of the year, 16 now. they all had a great year. tell you, ford has to pay the owners and the leases what could be as much as $17 million to compensate them for these bad mpg numbers, and, you know, that follows honda or hyundai and kia who had to do it last year. could there be more lurking mpg problems out there? at this point, we don't know, but it wouldn't be a good thing. >> all right. jeff flock, you know, it's important for us to get the exact ratings on the exact cars and not have them filling in one for the other. that was like a five-eight brunette taking my sat test for college. yaw can't interchange those.
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hopefully they are tougher on the rules. >> a center for trial lawyers, guys. moving on. the pro moe of all pro moe, the all star showdown, fight for stock picking supremecy. they kicked off the semifinal round duking it out friday with the latest picks. tracking the plays for a month and the person with the best performance and right hook, the best one, moves to the championships. looking to meet one of them there, jim and oliver pore issue battle it out friday noon eastern on fox business. >> i love it. workers protesting for higher minimum wage demanding ceo pay be cut. we have a new study that argues against it, ahead. >> apple on the rebound in the stock market, but not at the box office. the flick with ashton kutcher playing steve jobs opened in 7th place over the weekend. details ahead in my "media
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minute," first, today's s&p's winners and a few losers. ♪ every day we're working to be an even better company -
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with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scorade.ke me. (announcer) scottrade. awarded five-stars from smartmoney magazine. dennis: a egyptian violence is on the rise. so our fears that it will hit you at the gas pump. you have heard of trader joe's. how about pirate joe's? one important thing will be missing when america goes on the air tomorrow. that story is coming up in the media minute. cheryl: time now for lauren
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simonetti. >> jpmorgan has had a neutral rating on the stock. up 3% right now. jpmorgan also increasing its price target. that is the number one performer on the s&p 500. you have intel, nike, best buy. most of those are consumer numbers. those are your big winners. >> that is a great plane. thank you so much. dennis: pushing seattle to raise the minimum wage to $15 an hour.
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it would still be a huge increase. protests are growing. the argument against huge executive pay grows higher as well. how much more with their employees be able to take home and pay. next to nothing. joining us now we have the man behind that study. stardust off and tell us what your study found. >> we looked at walmart. we looked at starbucks. basically what we found is even if you give them 100%, the hourly pay would typically increase by less than a percent.
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if you started including franchisees and there, the rate would be even lower. >> is a pretty hard one to support. what are your thoughts on this? we are talking about less than one penny for the workers. >> it is a pebble in the ocean of pay. how do you get worker pay up? i do not think anyone thinks they can raise a family on a job at make donald. it is not meant to be a long time job. we have seen, for example, other
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retail franchises raise the weekly rage to $14.50. they raised prices and then they used touchpad kiosks in place of workers. dennis: isn't it true that most people who do start out on minimum wage stay there only a year or so of their entire careers? >> that is true. let's say a single parent supporting children, in new york state, you can get almost $7000 in additional income in addition to the income from your job. i think those are far more give
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ways. >> it does seem really unrealistic. if you bring the well-paid workers up, what happened to the workers that are making nine and ten and $12? i do not know how anyone could ultimately run a business on that type of platform. how many times do you think it has been visited? do you think we will be revisiting this topic in the next five years and the decades ahead. >> i do. anytime you are protesting a retailer or a restaurant, you run into problems. the profit margins really are not that enormous. if you are on the activist side, you have to look at ceo
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salaries. it does not make it any more intellectually honest, though. dennis: the vast majority of the big increase is because of stock options. the preview generation of performers wanted it tied to the stock performance. >> that is right. i think you are absolutely right. i think that the ceos pay issue is different than the minimum wage issue. the thing of it is, we have nonbinding union votes. again, nonbinding. they need to work with the companies themselves.
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dennis: if workers are underpaid, it is not because the ceo is getting paid too much. thank you so much. >> thank you. the crisis in egypt. the case against sending aid. that is coming up. dennis: new concerns on how that violence could push up gasoline prices here. ♪ ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from ameritrade. all on thinkorswim. peace of mind is important when so we provide it services you bucan rely on. with centurylink as your trusted it partner,
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♪ facebook fan of the hour shares of saks under pressure at the luxury retailer reported a wider than expected second-quarter loss. the company lost $0.10 a share on an adjusted basis. to sense more than expect it. edward group rallying today. it works out to $10.50 a share. they believe the city owes them money. they must come forward. that is the very latest from the fox business network. giving you the power to prosper. ♪
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>> no end in sight to violence in egypt. 900 people were confirmed killed in just under a week. >> it seems like right now the army is winning not only the battle for the street, the army is also winning the battle of hearts and minds. a number of arrests made. they are now inside of cairo. they are trying to turn down the flame. it is much harder for the muslim brotherhood to get people out on the streets. however, sympathizers launch an attack executing 25 police
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officers. that does not do much for the brotherhood. it really shocked the egyptian people. it was the army that was being seared at that time. all of a sudden, we get a curveball this morning. the former president who was deposed in 2011, but had run egypt for more than 30 years may be freed from jail. his lawyer says he now may be released. whether that happens or not is a little bit more shaky in the sense of what the army -- it
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seems like this latest round of violence probably is not over. it should give both sides a chance to step back. >> this is unbelievable thank you. dennis: let's bring in the vice president at the heritage foundation. he joins us from washington. i am just kind of wondering here , still under house arrest. is that the latest? >> that is right.
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on the one hand you do have where he has been cleared on most charges. the other thing i think, obviously if they let him go we will not necessarily send people to jail. of course it will anger the muslim brotherhood. they are kind of out of there. the majority of egyptians are with the military. i am not sure that that would peel many of them off. right now, they are focused on the muslim brotherhood. dennis: when the military engineers, we have to stop
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providing aid. does it have wiggle room on that? >> according to them, they do. i think that the law is actually pretty clear. at some point, there will be a new obligation of money. the reality is, it isn't very much symbolic. this is really a political statement. congress could turn around and reinstate it the next day. the aid is a statement of we understand that you are trying to put the country back on track. if you cut it off, you are just abandoning. the only people that really help is the muslim brotherhood.
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the producer asked, have we backed the wrong side? james, i cannot even tell which side we are on in this. what side are we backing right now? >> it is really hard to tell. they kind of send these signals. they are very equivocal. there really are two sides. the army is sincere in trying to get egypt a second chance. you can go with the army and maybe get a better outcome. those are your choices. it is pretty stark.
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by thank you for being with us. >> let's bring in bill flint. standing by at the cme. >> right now, we are breathing a sigh of relief. we got through the weekend and despite all of the violence and all the headlines we didn't impact the suez canal or the pipeline. they came out very strongly saying they would defend the canal and they would defend the pipeline. at least for right now, traders are buying into that. gasoline is falling pretty strong right now. big reversal from earlier in the night. now, the thing is, it continues
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to widen. that is where you are seeing the risk premium go today. stay tuned. it will be a long day. right now, they are kind of calm. >> phil flynn, thank you so much. let's send it right over to the floor of the new york stock exchange. we have been seeing a lot of red and back and forth. how are you feeling right now? >> historically, this is one of the quietest of the year. we are down small. there is really nothing going on. the only thing trading up is the
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ten year. >> later in the week, we will be getting some home earnings. where do you think, when we go into the hall the back to school, the holiday season, how do you think people will be? >> the market is still up 60%. 20% dow and s&p. if you look at their retail sales estimates, they were kind of disturbing. they were for the middle class. that guidance was not too positive. i think that had a lot of traders on edge. nicole: you make a good point. find jobs is not easy. thank you so much. >> thank you.
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dennis: america get that to go on air tomorrow. looks like advertisers will stay away from that new news channel. nicole: you have heard of trader joe's. how about pirate shows? ♪ [ male announcer ] how do you get your bounce? [ man ] lasting freshness.
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dennis: in today's media then it, kerry is out. announcing his door check this out. he will then move to a similar position at the national geographic society. insanely mediocre. the new biotech jobs popping at the box office.
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taking in less than $7 million. ranking a distant seventh. this was from sony. it was based on the best-selling author. the new u.s. version debuts this week. he has almost no advertising at all. new york post said date and agencies are wary of sponsoring the new channel. it has been seen by some critics as sympathetic to the goal islam's. listen to this promo for an upcoming game. ♪
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>> watch it. watch it. [laughter] dennis: i look forward to more of that. nicole: that sounds like good partying material and something you do not want to miss. one man has taken his love for trader joe's too far. a canadian store owner who spent more than $350,000 to resell in his own store for profit. they are calling for the canadian copycat store to be shut down. trader joe's currently has no store locations in canada, in case you were confused. dennis: they may lose that case. i do not know.
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cady joins me and lori with her signal to buy. >> zero. the number of hurricanes so far this season. the business of terror storm season. dennis: prices at the pump getting lower. tom close on which area of the country has it best.io ♪ and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together.
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and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber.
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to fly home for the big family reunion. you must be garth's father? hello.
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mother. mother! traveling is easy with the venture card because you can fly any airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet dennis: hello, i am dennis kneale. lori: i am lori rothman. another two-year high today. the pullback and what they are looking for as the next signal to buy. dennis: the president is back from vacation, and so am i. the replacement for bernanke is
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on the agenda. we are looking to the coastline. hurricane season. so far, off to a slow start. ahead, the forecast in the financial fallout. dennis: gas prices driving ahead of the holiday. time for stocks now as we do every day at this time. let's head to the floor of the new york stock exchange. lauren simonetti. >> you said it. the ten year yield is now 2.893%. we have markets that are mixed. the dow did, within 40 points. we can get there. we can fall between the key bench